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What sort of "intellectual DDoS" is this -- reeks of disingenuity. Page 9 of the PDF of the actual order (linked on the page under "SEC Order") explains how Bl
by shrikant 5y ago
What sort of "intellectual DDoS" is this -- reeks of disingenuity.
Page 9 of the PDF of the actual order (linked on the page under "SEC Order") explains how BlockFi made misleading claims:
> From March 2019 through August 2021, BlockFi misrepresented on its website that its institutional loans were “typically” over-collateralized, when in fact, most
institutional loans were not. Accordingly, although BlockFi made other disclosures on its website concerning its risk management practices, BIA investors did not have complete and accurate information with which to evaluate the risk that, in the event of defaults by BlockFi’s institutional borrowers, BlockFi would be unable to comply with its obligation to pay BIA investors the stated interest rates or return the loaned crypto assets to investors upon demand. This false and misleading statement was in the offer and sale of BIAs, and as such was in the offer and sale of securities.